European Tier One Banks: Still Living in a Tactical World

Featuring: Bob McDowall, Research Director, Europe

Moderator: Ralph Silva, Research Director, European Banking & Payments

Earnings season has come and gone, but what has it told us about the status of banks? This TowerGroup View podcast covers the lessons learned from the published earnings for the European Tier 1 banks. Retail banking firms are under intense pressure and as a result, IT funding is becoming a priority. European banks are focused on short-term tactical initiatives, mostly around maintenance and replacement solutions, but some banks are being more creative. After a five year hiatus, we are once again talking about shared services with some European banks leading the way back. Although recovery is still embryonic, it does appear that European banks are more willing to explore IT solutions as a method of improving customer service and manage risk, beyond that, it’s still too early for strategic thought to dominate.